AGF REPORTS DECEMBER 2010 MUTUAL FUND SALES

TORONTO, Jan. 5 /CNW/ - AGF Management Limited reported total fee-earning assets under management (AUM) of $44.1 billion as at December 31, 2010 compared to $45.0 billion at December 31, 2009.

($ millions) Assets at December
31/10
Gross Sales
December 2010
Redemptions December
2010
Net Sales December
2010
Net Sales December
2009
Long-term Funds $22,427 $289.5 $403.1 $ (113.6) $ (92.6)
Money Market 344 4.8 22.2 (17.4) (10.8)
Total Mutual Funds $22,771 $294.3 $425.3 $ (131.0) $ (103.4)
Institutional and Strategic Accounts +
High-net-worth
21,318
Total Assets $44,089

Net redemptions of long-term mutual funds for the month ended December 31, 2010 were $113.6 million compared to long-term mutual fund net redemptions of $92.6 million in December 2009.

Average daily mutual fund AUM for December 2010 was $22.7 billion compared to $22.8 billion in December 2009. AGF institutional, strategic and high-net-worth AUM decreased to $21.3 billion from $22.2 billion at December 31, 2009.

About AGF Management Limited

AGF Management Limited is one of Canada's premier investment solutions firms with offices across Canada and subsidiaries around the world. AGF's products and services include a diversified family of award-winning mutual funds, AGF Elements portfolios, the Harmony asset management program, services for institutional and private clients, as well as AGF Trust GICs, loans and mortgages. With approximately $44 billion in total assets under management, AGF serves more than one million investors. AGF trades on the Toronto Stock Exchange under the symbol AGF.B.

SOURCE AGF

For further information:

AGF Management Limited shareholders and analysts, please contact:

Robert J. Bogart, CPA
Senior Vice-President and Chief Financial Officer
416-865-4264, bob.bogart@agf.com

Media, please contact: 
Lucy Becker
Vice-President, Public Relations and Public Affairs
416-865-4284, lucy.becker@agf.com

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